Choose The Best Loan Options Wisely With This Guide

You may not know you have options when it comes to fast cash loans, but it’s important to choose the one that best fits your needs. Idaho Title Loans, Inc. offers a few different loan options to get emergency funds quickly when unexpected expenses arise. You could get a payday loan, a title loan, or a signature installment loan. Each offers its own benefits and is ideal for a certain type of situation. Below you'll find the details of each so you can compare.

Our Loan Options

Let's start with a brief overview of our different loan options. These are all good options when you need a little extra cash between paychecks. These loans are easy to get and help keep you on track with paying your bills.

• Payday loan - A payday loan is a good option when you have a job that provides you steady income. You don't have to have any collateral. You simply need to show you're employed and what amount your paycheck is for. Payday loans can help bridge the gap in-between paychecks.
• Title loan - A title loan is backed by a clear title to your vehicle. This is a collateral-style loan that uses the equity in your owned vehicle to back up the loan.
• Signature installment loan - Similar to our payday loans, signature installment loans are based on the fact that you have a job that brings you income. The difference is you can get approved to borrow more and you'll have longer to pay it back.

It's up to you to decide how much you need and which option works best for your situation. So, let's look at a few more details about the loan options we offer.

Payday Loan

A payday loan is great when you have something spring up on you that costs a little more money than you have to spare. These are short-term loans so you can't borrow as much as you can with our other options.  

You can get a payday loan for up to $500. Your approval amount is based on how much you make and your ability to repay the loan. Generally, you must pay back the loan when you get your next paycheck, so we will make our decision on what you can reasonably be expected to pay back that quickly.

You will only need a few items to qualify for a payday loan with Idaho Title Loans, Inc. You must be 18 years old or older. You must show a state-issued photo ID. And you'll need an open and active checking account in your name. Make sure you have a blank check from that account to present to the loan specialist. Finally, you'll need your most recent pay stub.

Title Loan

A title loan allows you to use your vehicle and its title as collateral to borrow money against. Title loans are ideal when you need a bit more money and you own your vehicle outright. You can borrow up to $15,000 on a title loan with us.

We require you to have proof of income, your state-issued ID, your vehicle, and the title to that vehicle registered in your name. Your vehicle must be inspected to determine how much you can borrow. 

You'll have more time to pay back your loan than you do on the payday loan. You also get to continue driving your vehicle throughout the loan term. We do not take your vehicle while it's used as collateral.

Signature Installment Loan

The signature installment loan is like a payday loan but for a longer term. You can borrow up to $1,500 on a signature loan, which you will pay back in installments. You need basically the same items as the payday loan -- your state-issued ID, most recent paystub, and a recent bank statement, and you also need to be at least 18.

Online Options

The good thing about our loans is you can begin the process right online. You'll start the inquiry process online or over the phone. Then, the loan representative that calls you will help schedule an in-person meeting so you can present your documents, and your car for inspection for a title loan. Your loan specialist can come to you at a location of your choosing.

Final Thoughts

You don't have to fall off track with your finances when unexpected expenses pop up. You have options. At Idaho Title Loans, Inc., we work with all kinds of credit situations to get you the cash you need fast.

If you're ready to see how we can help you, go to our homepage and choose the type of loan that works for your needs. Submit the inquiry form and we will reach out to you shortly to have you on your way to the financial help you're looking for.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.